Business, international

As Russia squeezes big business, a tycoon decides to pick a fight

Article Abstract:

Mikhail Fridman, Alfa-Group of Russia has initiated a bribery case against Leonid Reiman the Russian Minister of Telecommunications and longtime friend of Vladimir Putin. Mr. Putin has pledged to rid Russia of the powerful tycoons that rose after post-Soviet Russia, the super rich are either leaving the country or currying favour with the government. Mr. Fridman has built an approximately $8 billion empire.

Improved, update technology in Russian oil fields is yield higher productivity and the discovery of far greater reserves than previously known. All the major oil companies are looking to invest. Rusia's importance and an oil producer grows.